Analysis by an industry leader has examined how the type of borrower affects the likelihood of a mortgage default

It may be a surprise for some, but for the silent majority of brokers, perhaps not.

1089 brokers have spoken in our online poll which closed yesterday, asking brokers to weigh in on an ACCC review of lender requirements that in some cases make MFAA membership mandatory.

Despite a litany of scathing online comments from brokers which pilloried the idea of making MFAA membership mandatory, the voting broker public steadily added their support to the idea.

The result? 73% of all brokers have said yes to lenders enforcing MFAA membership.

Surprised? Well, perhaps you are among the other 27%, who voted either no, or undecided.

At present, the likes of Aussie, ING Bank, Virgin Money and Mortgage Choice have in place notifications requiring brokers dealing with the companies hold MFAA membership.

However, ING Bank has today confirmed that it is training it is after - not MFAA membership. Mortgage Choice however, is standing by its stance on mandatory membership of its franchisees.

Australian BrokerNews would like to thank you for your participation in the poll - and ask you to vote in our next! Is the glass half full, or half empty - will you write more business in 2012? Vote here!

COMMENTS

by Brad Q15/12/2011 10:13:38 AM

that poll must be rigged.... look at all the comments and not onr broker thought it was ok for a lender to enorce mfaa membership to be accredited....

by John Robbo15/12/2011 10:19:19 AM

What a load of rubbish. This vote is absolutely manipulated! Very few brokers support mandatory MFAA membership. This shows that eithyer a) The vote is manipulated, b) Multiple votes are made by the one entity c) The lenders who support it have their staff vote on mass. Either way, it shows just how out of touch Australian Broker News is with their readers. If they took the time to read the comments that their readers have made on this they would smell a rat. We brokers are sick of larger organisations making very bid decisions for us brokers under the pretence of representing us. This whole vote needs to be investigated. It in no way represents the brokers.

by ozboy15/12/2011 10:19:50 AM

Seriously how can you tell that everyone who voted was a broker? I voted at least 5 times all from different IP addresses. Your polls are not a good judge. Mmm wonder if this will be published?